Nuveen Acquires La Mirada Industrial Facility for $151M

Cushman & Wakefield has advised in the dispositional sale of La Mirada Distribution Center, a 337,000-square-foot, Class A industrial distribution project in La Mirada, CA. The firm represented the seller, Clarion Partners in the $151 million transaction. Nuveen Real Estate, one of the largest investment managers in the world, purchased the property.

“This was an exceptional investment opportunity to acquire a rare and sizable institutional quality industrial project in an ultra-infill location, that is 100% leased to a quality tenant roster,” said Cushman & Wakefield’s Jeff Chiate who advised in the deal along with Jeff Cole, Rick Ellison, Mike Adey, Brad Brandenburg and Matt Leupold.

Located on Rosecrans Avenue and built in 1997, the asset features ESFR sprinklers, 30’ clear heights and 87,000 square feet of food-grade refrigerated space. The property offers a strategic location near the junction of I-5 and SR-91, and is just 15 miles from the Ports of Los Angeles, Long Beach and LAX.